Automotive Aluminum Market Overview:
The Automotive Aluminum Market size is projected to
reach US$133.41 Billion by 2030, growing at a CAGR of 8.72% during the
forecast period 2022-2030. The base year considered for the study is 2021 and
the forecast period is 2022 to 2030. The Automotive Aluminum Market includes
all kinds of aluminum used in automobile manufacturing such as passenger cars,
commercial cars, trucks, buses and other vehicles.
Aluminum Used in Automotive
- Types of Aluminum:
- Cast Aluminum Alloys: Commonly used for engine
blocks, transmission cases, and wheels. Examples include A380 and A356.
- Wrought Aluminum Alloys: Used for structural
components, body panels, and interior elements. Examples include 5xxx and
6xxx series.
- Best Aluminum for
Automotive:
- 6xxx Series (e.g., 6061,
6063):
Known for good mechanical properties, corrosion resistance, and ease of
machining and welding. 6061 is particularly favored for its balance of
strength and workability.
- 7xxx Series (e.g., 7075): High strength-to-weight
ratio, used in high-performance and luxury vehicles, though it is more
expensive and less corrosion-resistant compared to 6xxx series.
- 5xxx Series (e.g., 5052,
5083):
Good formability, corrosion resistance, and moderate strength. Often used
in body panels and fuel tanks.
- Automotive Aluminum
Components:
- Engine Blocks and Cylinder
Heads:
Typically made from cast aluminum alloys like A356 due to their ability
to withstand high temperatures and pressures.
- Transmission Cases: Made from cast aluminum
alloys such as A380, which offer good strength and durability.
- Wheels: Often made from cast aluminum
alloys for their lightweight and strength.
- Body Panels: Made from wrought
aluminum alloys like 5xxx and 6xxx series for their formability and
corrosion resistance.
- Chassis Components: Include suspension parts,
subframes, and control arms, usually made from 6xxx or 7xxx series for
their strength and weight reduction benefits.
- Type of Aluminum for Car
Bodies:
- 5xxx Series (e.g., 5052,
5083):
Offers excellent corrosion resistance and moderate strength, making it
suitable for exterior panels.
- 6xxx Series (e.g., 6061,
6063):
Provides a good combination of strength, formability, and weldability,
making it ideal for structural components and body panels.
- 5xxx series alloys: Often used for body
panels due to their excellent formability and corrosion resistance.
- 6xxx series alloys: Preferred for structural
components like doors, hoods, and chassis parts because of their higher
strength and good workability.
Competitive Landscape
- Alcoa Corporation
- Novelis Inc.
- UACJ Corporation
- Norsk Hydro ASA
- AMG Advanced Metallurgical
Group
- Constellium
- Aluminum Corporation of
China Limited
- Rio Tinto Group
- Aleris Corporation
- Autoneum Holding AG
- Dana Limited
- ElringKlinger AG
- Progress-Werk Oberkirch AG
- JINDAL ALUMINIUM LTD.
- Kaiser Aluminum
- Lorin Industries
Research Methodology
We have conducted a qualitative research to analyze the global Automotive
Aluminum Market size. This report is based on in-depth interviews with key
industry experts, an assessment of the competitive dynamics within the
industry, as well as an analysis of the macro-economic drivers that influence
demand. We have also used secondary sources to validate and elaborate on our
primary findings.
Executive Summary
The automotive industry is the largest consumer of aluminum in the
world. The metal is used to make everything from car parts to vehicle
exteriors. As a result, the market for aluminum has grown over the past few
years, with demand coming primarily from China and India. Furthermore, many
automakers are looking to use aluminum in their vehicles as they seek ways to
improve fuel efficiency. Automakers are also looking at using lighter weight materials
in order to meet stricter emissions standards set by governments around the
world.
Market Dynamics
The Automotive Aluminum Market has seen a recent boom in both size and
growth. The Automotive Aluminum Market is expected to grow at a CAGR of 8.2%
during the forecast period of 2016-2020. This is primarily due to the rising
demand for lightweight cars with increasing fuel efficiency standards, which
require lighter and more durable materials such as aluminum. For instance, the
global production of light weight vehicles has increased from 5% in 1995 to 40%
in 2015.
Global Automotive Aluminum Market, By Vehicle Type
The global Automotive Aluminum Market size is expected to grow at a CAGR
of 6.5% during the forecast period (2017-2027). The increasing demand for light
weight vehicles owing to their efficiency in terms of fuel consumption,
emissions, and reduced maintenance costs is one of the key factors driving the
growth of the Automotive Aluminum Market.
Global Automotive Aluminum Market, By Application
The global Automotive Aluminum Market is expected to grow from USD 23.2
billion in 2016 to USD 39.4 billion by 2023, at a CAGR of 7.8% from 2017 to
2023. The growth of the automotive industry has been driven by factors such as
increasing demand for fuel efficient cars, stringent emission norms, and
technological advancements in electric vehicles.
Global Automotive Aluminum Market, By Geography
The global Automotive Aluminum Market generated revenue of USD 60.7
billion in 2016, representing a compound annual growth rate (CAGR) of 4.8% from
2012 to 2016. In terms of volume, the global Automotive Aluminum Market is
forecasted to reach a total of 186 million metric tons by 2021, with an annual
growth rate of 3.4% for the next five years.
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